If you saw last weekend’s analysis you know that 1.2530 was (and still is) support.
Notice how sellers tried to take out 1.2530 several times last week, but buyers held their ground.
That leaves us in a similar situation for the week ahead.
It’s going to take a daily close above the 1.2640 resistance area to expose the 1.2800 region.
Alternatively, a daily close below 1.2530 would indicate weakness and expose channel support just below 1.2400.
Notice how sellers tried to take out 1.2530 several times last week, but buyers held their ground.
That leaves us in a similar situation for the week ahead.
It’s going to take a daily close above the 1.2640 resistance area to expose the 1.2800 region.
Alternatively, a daily close below 1.2530 would indicate weakness and expose channel support just below 1.2400.